Thursday, April 2, 2009

$11.2 Billion Redeemed Last Week By Equity Mutual Funds

TrimTabs is out with the latest mutual fund flows for the week ended April 1. The research company estimates that the past week saw $11.2 billion in outflows among the equity mutual fund community, which doesn't jive too well with all the rampant speculation about vanilla money running head over heels to throw their money into the rally. TrimTabs estimates the prior week inflow to $1.7 billion, implying a new swing of over $12.5 billion WoW.

Equity funds that invest primarily in U.S. stocks posted an outflow of $8.5 billion, versus a revised inflow of $2.3 billion in the previous week. Equity funds that invest primarily in non-U.S. stocks had an outflow of $2.8 billion, versus a revised outflow of $557 million in the previous week. In addition, bond funds had an inflow of $2.9 billion, versus a revised inflow of $7.1 billion in the previous week, and hybrid funds had an inflow of $810 million, versus a revised inflow of $451 million in the previous week.

Separately, TrimTabs reports that exchange-traded funds (ETFs) that invest in U.S. stocks posted an outflow of $1.4 billion, versus an outflow of $5.0 billion in the previous week. ETFs that invest in non-U.S. stocks had an inflow of $502 million, versus an inflow of $1.6 billion in the previous week.


Sphere: Related Content
Print this post

7 comments:

Anonymous said...

Volume was very light last week. Were the hedgies the only ones trading? All 'data' is starting to be suspicious, even from 'independant' sources.

Mel said...

I mentioned in another post earlier today that the equity flows have been very thin with most of the activity coming from the hedgies and props. Many desks saying most of the volume has been churning and has lacked conviction.

The path of least resistance is still higher. The long-term trend in equities has not changed. Many bulls are dancing in the streets right now as they have looked smart for the past month, but they have been to a handful of these parties over the past year.

Anonymous said...

Tyler,

FHLB's chairman of office of finance resigned last week because he wasn't comfortable signing off on the financials, once he understood the standards and methods for valuing various structured mortgage securities on the books.

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_weil&sid=aSWuIRVf5Q9k

Nick said...

So isn't this a bit of a contrarian indicator? Also, I got something else from trimtabs today saying there was $2.3 billion of net inflows. I took that - and trimtabs implied - to be a good sign that retail suckers were now bullish and that it was time to hold on for another leg down. Does this imply that people are cashing out at all costs, maybe to pay bills, fund an ever more expensive - due to deflation -lifestyle? A little clarity on your thinking on this and implications please.

peter said...

Nick, the "Hedge Fund" suckers have replaced the "retail" suckers as the true contrarians for over 1 year now. Shorting the top positions held by the hedgies has been money in the bank~

Anonymous said...

AMG data showed that, xETFs, equity funds had inflows of $297 million in the week of Apr 1.

(gotta look at it xETFs, thats real money flow)

www.amgdata.com

comments?

Anonymous said...

i think most of that outflow amount was the result of mutual fund quarterly distribution/dividend payments.